Pacific Gold identifies, acquires, explores, and develops proven mineral deposits in the United Sates. The company was incorporated in Nevada in 1996 and operates through five subsidiaries that cover several thousands acres of mineral rights in Nevada, Oregon and Colorado.
In a recent press release, Pacific Gold announced that it has completed its modernization program at the Nevada Rae facilities and resumed producing gold. Earlier the company installed new equipment which could reduce the time and cost for mine reclamation requirements and significantly improve the gold recovery rate.
The estimated value of US metal mine production in 2006 was more than $23.5 billion, a 51% increase from 2005. The prices for several mineral and energy commodities, including gold, have reached new highs and as a result miners’ profit and exploration activities are expected to increase.
Since Beacon Equity’s initial report, PCFG.OB shares have increased by 26% and the research bureau believes there is potential for more growth. The analyst closed the report stating, “The Company’s estimated value of base metals reserves of nearly $2 billion, its progress of operations at the Nevada Rae facilities and a strong gold price environment allow us to restate our Speculative Buy rating and price target of $0.9 per share of common stock.
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